Without one-time grants, exec pay down at Moto Solutions

Motorola Solutions Inc. paid its top executives a lot less in 2012, a year after it spun off its phone and set-top box businesses.

The Schaumburg-based maker of police radios and bar-code scanners made big one-time stock grants the previous year to reward and retain those in the executive suite after the company breakup.

CEO Greg Brown's total pay package dropped to $10.3 million from $29.3 million in 2011, when it was fueled by $15.1 million in stock options and $8.7 million in restricted stock.

The company's stock price rose 20 percent in 2012, with revenue up 6 percent and operating earnings up 46 percent, according to the proxy statement filed Monday.

Mr. Brown's salary remained flat at $1.2 million, but his cash incentive compensation dropped to $3.4 million from $4.1 million in 2011. The company made a $1.5 million donation to his alma mater, Rutgers, the State University of New Jersey, to establish an endowed chair in his name.

Chief Financial Officer Edward Fitzpatrick's total pay dropped by more than half to $1.7 million from $4.3 million in 2011.

Gene Delaney, former executive vice president who oversaw engineering and operations and announced his retirement this year, saw his total pay decrease to $3.5 million from $7.8 million.

Compensation for Mark Moon, who now is responsible for sales and product, dropped to $2.5 million from $4.5 million.

This item has been updated to correct when Mr. Delaney announced his retirement.